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Very Old Sage Accounting Package - help please
I am still using a very old (2014) version of Sage v20 which as far as I can tell is not 'in or on a cloud' but was installed onto two computers via a disc. This still works very well for us, not only for the accounting but also managing orders/production schedules. The business is much smaller now than when we used Sage…
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business banking can i get interest?
hi all. i have a LTD co and a business account with santander + bus savings accout.. my business dealings are simple, no cheques no cash no loans just money in (bacs tx) and my own PAYE out.. + a healthy balance that i keep as a float. how can i get some interest/money from business banking? for a start i want free banking…
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Starting a holding company
My accountant has suggested I consider opening a holding company to take profits out of my main business. I have tended in recent years to pay the corporation tax, take small dividends, with the result being the balance sheet increases each year and consists primarily of cash in the bank. We don’t have many other assets.…
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VAT on events?
A quick question, I'm not VAT registered and have not gone over £85k or will go over. I run an event, an now going to be running 2 more events. One of the events is a deal where its a 25/75 split, but because the money goes through the building i'm hiring I have to pay 20% Vat. My question is if I get registered do I get…
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Self assessment - Employee
Hi Thr SA questions have changed slightly and before asked if you were an employee and If you were self employed and this year it is only asking if you are an employee/director/agency. The only reference I see to SE is the next question Down asking if I have made over £1k but unsure if being self employed also makes me an…
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Health insurance through workplace
We are a small business of two directors looking to get a health insurance. The quote we got for a business insurance is too high, would it be a problem if we get two individual ones and pay them from the company bank account? Due to our circumstances, two individual insurances will be much more cost effective to us than a…
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Concerned about legal risk of going sole trader
I have been in business almost 18 year now. Just a small business. I am kind of starting from scratch with a new business. The last few years has been terrible for me and I am now at the lowest point I have been in many years. I am normally a very positive glass half full type of person. Nothing seems to be going my way.…
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Arrangements for getting paid outside of PAYE
I have recently got a first time opportunity to be paid directly for a service that I provide. I was wondering what would be the best way to log these earnings with the HMRC? I recently made my company dormant because it was not earning anything from the time it was incorporated. However, I've just had a slight…
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Register trading name while earning less than £1K
Hello all, I am interested in setting up as a sole trader with a business name (trading name) for my ad-hoc freelance work. My income has been less than £1,000 annually so far, but I'd like to make it more professional and trade under a business name (and get paid via a sole trader bank account). Here's the problem, since…
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Looking for door handles for rental flat
Hi, I have just bought a flat to rent out but the door handles need replacing - looking at buying in bulk so I can keep a few spare. Just wondered if anyone can recommend any good suppliers?
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Selling Current Stamps at "discounted" prices
When I was self-employed I bought LOTS of stamps - mostly 1st and 2nd class though some which had the acutal price printed on eg 10p. I bought the bulk of them about 20 years ago. I started counting them for the "swap out" scheme to get them swapped like for like with the barcoded but then realised I have *way* too much…
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Self Employed Carer Liability Insurance
Hi - does anyone have any suggestions for providers of Liability insurance for self employed carers? "Simply Business" who seem to be on all the comparison sites no longer cover the care sector. SB suggested Biba who say that their brokers require carers to be CQC registered in order to quote. Any thoughts??
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Is it too late to change tax period? Fine
Hi,I set up a ltd company oct 2020.I was just fined £100 for not sending in the accounts for oct-april.I send in april to oct and they sent it back saying its too soon.I have my accounts made oct-oct. So question is do I just contact them about changing the accounting period to oct - oct or because ive been fine is it too…
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New Electricity supply
Hello! We are in the process of having electric to our shed (agricultural). We have had the cabling done by Manweb, who is local to our area, but they do not supply electric to business. So we need to find the best company to arrange a supply from. Our home electric is supplied by Scottish Power, but after several hours on…
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Commercial Property Let
Hi, I am looking to rent a small business unit and have been in discussions with the landlord. We have agreed the general terms for the lease at which point he asked me to submit a Note of Interest on the property. I had assumed once we agreed the terms he would have his lawyer adapt a fairly standard template, he'd send…
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Client won't pay - is a Statutory Payment or Small Claims Court a better choice?
So after many months happily freelancing I've finally had a client who won't pay. It's an £800 job, part of which are expenses so I'm actually out of pocket on this one. Client said they were happy with the finished products and going to pay but nothing. Multiple emails, phone calls etc. and no response. So to get my money…
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A Question about Limited Company Dividend Payments
Hi all, I have a question about how to pay myself in dividends as a limited company. I'm a little confused about how this is more tax efficient than just taking my income as a sole trader, hoping anyone can help clear that up for me. Background and my (presumably flawed) understanding of the setup with questions in bold:…
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My tax is getting a bit complicated
I've been registered self employed since 2002 and have run various businesses. Always as a sole trader and was pretty on the the ball with tax etc. However things have now got complicated. When covid hit, my clients all shut down (most in wedding industry). I claimed the first 3 SEISS payments but eventually I decided to…
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Income/Expenses tracker tips?
Hi everyone. I'm self-employed and anything to do with maths/numbers in general has never been my strong point to say the least! I know I need a way to keep track of my income and expenses, both for my business and personally, but I'm struggling to find a way that I can keep up with. All the apps I've seen are either far…
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Offsetting tax - sole trader business + PAYE job
Hi all, I have a full time PAYE salaried job, and have just started a small part time sole trader business, which doesn't make much money at the moment. If I were to make a profit loss one year from my sole trader business, can I offset the loss on the tax I pay on my PAYE job, and claim the tax back later from HMRC ?…
